Purdue near $40M target; less than 3 months after tuition freeze news

When a two-year tuition freeze was announced March 1 by Purdue University President Mitch Daniels, he said the move would cost $40 million — meaning the university would have to find new revenue, savings, or a combination of the two equal to that amount.

This week a top Purdue official said the university is three quarters of the way to reaching the $40 million goal.

That includes $5 million in new revenue, $7 million in savings by instituting a 1 percent merit raise wage pool, and millions more in other cost-cutting moves. Not all pieces, however, are in place, said Al Diaz, vice president for management and budget and treasurer.

“What we need by July is a plan,” Diaz told the Journal & Courier. “I think we’ll beat that schedule, but we’ll have to work at it.”